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Fillers Market In The Composites Industry Report | Covid-19 Impact Analysis
Fillers Market in the Composites Industry is Segmented by Filler Type (Calcium Carbonate, ATH, Talc, Sand, Clay, Microsphere, and Others), by Process Type (Injection Molding, Compression Molding, Hand Lay-Up, Spray-Up, Filament Winding, Pultrusion, and Others), by End-Use Industry Type (Transportation, Electricals &am...
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
In the Composites Industry, fillers are widely used in part fabrication to alter the properties of base resin as well as to reduce the production cost and raw material consumption. Composite industry stakeholders have increasingly been relying on the benefits of fillers in a multitude of fabrication processes including injection molding, compression molding, hand-lay, spray-up, filament winding, continuous lamination, and pultrusion, with an aim to reduce their operational cost and deliver specific mechanical properties to the final product. The composites industry occupies a minuscule share of the total fillers consumption but has always been in limelight among fillers market participants.
The outbreak of Covid-19 has shaken the global economy. The composites industry is no exception with the entire supply chain, from raw materials to composite products, witnessing a colossal plunge in demand. The demand for fillers in the composites industry is also experiencing a consequential decline in the year 2020, which is immensely dependent on the health of these industries. For instance, automotive, the biggest market for composite materials, is estimating a production loss of 20.0 million light vehicles in 2020 as compared to the 2019-production figure. Analogously, pipes & tanks, another mammoth consumer of composite materials, is also witnessing a grave impact of the pandemic with the oil & gas industry going through a crisis in the wake of diminished demand and reduced oil price. Building & construction and electrical & electronics industries are recording similar declines in the demand for composite materials.
Despite the weak market scenario in 2020, the long-term outlook of composite fillers still seems positive. The market is expected to rebound from 2021 onwards, assuming the recovery of the transportation industry, resurrection in the construction activities, and the surge in crude oil prices. As a result of that, the fillers market in the composites industry is expected to log a healthy CAGR of 5.6% during the forecast period, reaching to the estimated value of US$ 1.7 billion in 2025. An expected increase in the penetration of composite materials in most of the major markets with an aim to address burning issues, such as stringent carbon emission, aesthetics, corrosion resistance, lightweight, and long lifespan, is expected to set the growth path for fillers in years to come.
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Based on the filler type, the market is segmented into calcium carbonate, ATH, sand, talc, clay, microsphere, and others. Calcium carbonate is estimated to remain the dominant filler type during the forecast period in terms of volume. Calcium carbonate is widely used as fillers in the fabrication of composite parts for a multitude of markets including transportation, building & construction, and consumer goods, owing to its low cost and modest mechanical properties. ATH holds the second-leading position in the market in terms of volume. ATH is widely used in the electricals & electronics and transportation industries due to its excellent flame-retardant property.
Based on the end-use industry type, the market is segmented into transportation, electricals & electronics, building & construction, pipes & tanks, consumer goods, marine, and others. The transportation industry is expected to maintain its lead in the market over the next five years. Over the eons, automakers, tier players, and composite material suppliers have jointly worked together in order to increase the penetration of composite materials at a competitive cost. In order to reduce the cost, part fabricators are extensively incorporating low-cost fillers, such as calcium carbonate and talc, whereas fillers, such as alumina trihydrate (ATH) and titanium dioxide, are used to impart flame retardancy and UV-resistant property, respectively. The incessantly increasing penetration of composite materials in the transportation industry is reinforcing the demand for fillers in the coming years.
In terms of region, Asia-Pacific is expected to comfortably maintain its leading position in the market during the forecast period. China, Japan, India, and South Korea collectively hold more than 47% share of the global automotive production. The region also holds the dominant position in consumer goods, composite pipes & tanks, and electricals & electronics, leading to a huge demand for composite materials as well as fillers for those applications. Significant economic growth, huge consumer base, growing disposable income of consumers, and changing buying patterns are expected to further consolidate the Asia-Pacific’s position in the global market.
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In terms of value, Europe held the leading position and is estimated to maintain its position during the forecast period as well. Greater preference of ATH and titanium-dioxide fillers in European vehicles than low-cost calcium carbonate led to the dominance of the region.
The supply chain of this market comprises raw material suppliers, filler manufacturers, parts fabricators, OEMs, and MRO companies.
The key players in the market are-
Over the eons, the industry stakeholders have paid a lot of attention to new application development, strategic alliances, and business expansion. However, recent disruption in the entire supply chain has forced companies to focus on short-term strategies such as alignment of supply with demand and maintaining liquidity to minimize the business risk.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
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Research Scope |
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Trend & Forecast Period |
2015-2026 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Size in 2026 |
US$ 1.7 Billion |
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Countries/Subregions Covered |
The USA, Canada, Mexico, France, Germany, the UK, Russia, China, Japan, India, South Korea, Brazil, Turkey and others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The fillers market in the composites industry is segmented into the following categories.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s fillers market realities and future possibilities in the Composites Industry for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for fillers at the global-, regional-, as well as country-level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies
The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The filler market size in the composite industry is expected to witness an impressive CAGR to reach an estimated value of US$ 1.7 billion in the foreseeable future.
Imerys S.A., Huber Engineered Materials, Almatis Gmbh, Omya, Mineral Technologies Inc., The 3M Company, Sibelco, Evonik Industries AG, Albemarle Corporation, and Ashland Global Specialty Chemicals Inc. are among the key players in the filler market in the composite industry.
Asia-Pacific is expected to lead the filler market in the composite industry during the forecast period.
Calcium carbonate is estimated to remain the dominant filler type in the filler market in the composite industry in the coming five years.
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